BTC Performance in 2021

Since the start of 2021 bulls were unstoppable, BTC rose from 16k$ in Dec 2021 to 64k$ level on April 19, 2021. it's almost 300% growth in price in just four months. There was a clear head and shoulders distribution over there at that point, suggesting that now trend gonna change. Since 11 May Bull's dominance of the market was overtaken by Bears. The Crypto market started a downward trend a big price correction came from 11 may to 19 may, BTC lost almost half of its value in just 8 days. price touched to 30k price level after touching all-time high of 64k.

Bitcoin dominance of the Crypto world so far is almost 45%. when BTC crashed all ALT coins crashed too including my fav BCH.

BCH performance in 2021

BCH took a very promising start this year. In Dec 2020 BCH's price was around 250$, bulls were in control since the start of the year. Just in a single day BCH price rose from 930 $ to 1480$ on May 5. BCH touched its all-time high of the year 1650$ on 12 May just before the Crypto market crash. There was 560% increase in the price of BCH as compared to Bitcoin. Price growth isn't the only factor that makes BCH my favorite. BCH transaction speed, low fee, ease of access makes it my most favourite crypto in the Crypto Market. BTC with a high transaction fee and Ether with huge Gas fees nowadays making me a fan of BCH as a currency.

The Crypto market was suffering already from whales( big investors institutional investors) since last month May 19. The crypto Market crashed on May 19 recovered very rapidly, a lot of new investors bought the dip and supported the bulls and provided strong support to BTC at around 30k level. In the past month, there were a couple of occasions where BTC price was about to touch 30k level again but there is very much strong support for BTC here. Moreover, a lot of money moved from ALT coins to BTC which not only increased the BTC market dominance but also provided the necessary support to hold its 30k level. But this had made ALT coins more vulnerable and volatile. A small price correction in BTC leads to a big Price correction in all the ALT coins.

If you see the 7day percentage change in price of BTC, it is down around 21%, Whereas BCH 32%, Ether 29%, LTC 34 % etc. This has also contributed a lot to the Bitcoin dominance of the crypto market which has increased 4% in the past two days. Today BTC dominance is around 47%. To me, it is something very dangerous for the crypto market. If bears somehow would be able to break the support level of 30k and FUD create panic among the HODLERS market can see a very sharp downward trend. some speculators are of the view that BTC price will touch the 24k and some are more bearish in thinking they are speculating around 20k.

Death Cross created FUD

On 18th June we all witnessed a death Cross of BTC. if you don't know about the death Cross here is a brief definition of mine.

"when 200 days moving average cross the 50-day moving average, that event is known as death Cross"

The red line in the picture is the 200-day moving average and the yellow line is the 50-day moving average, which has created more panic in the market and the crypto market is crashing since then. In just three days the market is down 15-17%. But where BCH price will stop that's a question I have in mind and I'm not feeling good about it.